Transaction Overview
George Smith Partners successfully arranged $2,400,000 of cash-out on a free and clear neighborhood retail center with an automotive related tenancy in North Hollywood, CA. The subject Property was inherited by a family member and part of the cash out proceeds were used to pay estate taxes with the remaining funds going to the Sponsor and building up a reserve account. GSP went to a variety of lenders and identified a capital provider who was comfortable with the tenant mix, cash-out component, and Sponsor’s real estate experience.
